Hi there, everyone.

I'm desperately seeking some advice.

I have a house in an EU country which is likely to be repossessed (I'm currently paying all of the interest accrued but not the loan itself).

If/when this property is/were to be repossessed how does this effect my other property in another EU country?

In effect, will I lose the second house (permanent residence) as a result of losing the first property?

Many thanks, in advance, to anybody who has the time or knowledge to respond.

Kind regards.

Hello and welcome to CAG.

Our advice is mainly UK based. Can you tell us which countries you're talking about please?

My best, HB

Hi there HB,

My principle residence is in France whilst the property that may be repossessed is in the Republic of Ireland.

Kind regards,

M.

Two separate mortgages, presumably with different lenders and subject to French & Irish laws respectively. Wouldn't have thought that the repossession of one property would have any detrimental effect on the other in my opinion. The only problem I can see is if one of the lenders made the OP bankrupt, then the Official Receiver might consider the remaining property to be an asset.

It would be worthwhile consulting a solicitor familiar with cross border debts and seeking some expert advice.

Thanks Mr P,

The principal property, in France, is fully paid for. Nothing owing at all.

The debt is on the property in Ireland.

My worry is that, should the Irish property be repossessed, I will lose the French one as well.

Kind regards,

M.

Another site team member has provided me with a link that may be of interest: http://www.citizensinformation.ie/en/housing/losing_your_home/home_repossession.html

If the mortgage was taken out before 1st Dec. 2009, the following quote may provide some comfort:

In 2011, a High Court [in Ireland] decision established that there were legal difficulties with getting orders for possession of certain properties. This decision was made in a number of cases where mortgage providers were applying to repossess mortgaged property.

 

Put simply, the decision meant that, in the case of mortgages created before 1 December 2009, it was very difficult for a mortgage provider to get an order for possession unless the court proceedings were started before that date.